AUSTRIA: TRIGON BANK TO OPEN AGAIN

Article Abstract:

Vienna-based Trigon Bank AG is to re-open on 8 November 1999. It was closed temporarily, after clients rushed to withdraw their deposits, following rumours about the bank being in financial difficulties. The Vienna Trade Court rejected application of the financial procurator to put the bank under administration similar to the US' Chapter 11 proceedings. The court held that the bank is not insolvent.

Retail Banking Services, Financial management, Services information, Retail banking, Trigon Bank AG

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AUSTRIA: MONEY & CARD GOES INTERNATIONAL

Article Abstract:

Four subsidiaries of the Austrian National Bank are joining forces in order to increase the sales of knowhow related to money. Munze Osterreich AG (mint), Oesterreichische Banknoten- und Sicherheitsdruck GmbH (OeBS; banknote and security printing), Austria Card GmbH and Card Solutions GmbH are targeting especially the Middle East and the neighbouring regions in Asia and the Mediterranean, but also eastern Europe and overseas markets. The group operating under the title The Money and Cards Group expects to be able to increase turnover by 10%. The combined turnover of the four companies amounts to about Sch 5bn. The Money and Cards Group claims to be the first comprehensive supplier worldwide, covering all aspects from mint to plastic cards.

Strategy & planning, Joint ventures, Consumer Lending, Nonbank Credit Card Firms, Credit Card Issuing, Printing, Consumer Finance Institutions, Commercial Printing, Letterpress Bank Checks & Slips, Litho Bank Checks, Slips, Etc, Commercial Flexographic Printing, Other Commercial Printing, Consumer finance companies, Nonbank credit card services, Oesterreichische Nationalbank, Printing industry, Checks, Letterpress printing, Financial printing, Lithography (Printing), Austria Card GmbH, Munze Osterreich AG, Card Solutions GmbH, Oesterreichische Banknoten und Sicherheitsdruck GmbH

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